New Britain Herald Newspaper, September 30, 1922, Page 11

" BSON WOULD ADVISE “NEW HAVEN” T0 SELL RIGHTS Wellesley Hills, Sept. 30.—Since the settlement of the raflroad strike, many tips'have come from Wall street rela- tive to the purchase bf rallroad secu- ritles, Relative to these recommen- dations Roger W, Babson today issued the following statement: Strike Settlement “There {8 no doubt but that the set- tlement of the rallroad strike is fav- orable to general husiness. Owing to the coal situation, such a settlement was absolutely necessary. Moreover, it has been more or less favorable to the rallroads. The wage-workers have gone back at the rates deter- mined by the Ralilroad Labor board and most of those who went out on strike are sorry that they did it. The senfority question was settled on a 60-50 basis, neither side claiming vic- tory. This also is well for all concern- ed because the railroads are now able to restore senfority rights to the good men who deserve them and to with- hold them from those who do not. ‘Wall Street is justified in sending out reports that the settlement is favor- able to rallroad securities, ‘Will Safeguard Future “The settlement of the strike on the & present basis should also prompt both » - sldes to ‘count ten’ before another #trike is precipitated. In other words, the raliroad strike was expensive for both the railroads and the wage- workers.” The wage-workers today , realize that the railroads are strong- P ) ; | b i 3 ? : i : ; { . ; - A A S er and better able to handle a labor situation than has been the case for many years, while the railroads have greater respect for the labor unions than they have had heretofore. All of this means that when another differ- OF WAY TO STATE ence arises hoth sides will be anxious to patch up the difficulty before a strike 18 called instead of being anx- fous to precipitate a strike as seems to have been the case two months ago, \Therefore, barring the Buropean sit- vation which may adversely affect all securities, I teel fairly optimistic on rallroad securities, 1 say that the European situation may adversely af- feet all stcurities because people are liable to rush to sell their European securities and in so doing all securi- ties will be affected, even though anot European war would ulti- mately help our industrials and indi- rectly our rallroads, Buy With Care “Rallroad securities, however, must be bought with great discrimination. The time is past when all railroads are good or had, The next few years will witness as great changes in the rallroad fleld as the past ten have witnessed in the traction fleld Rall- roads have already felt the effects of pleasure automobiles, but they have not really begun yet to feel the ef- fects of auto trucking, The trucking of goods within radius of 50 or 100 miles has only begun and this radius may readily be extended to cover 200 or 250 miles. Trans-continental sys- tems such as the Union Pacific, North- ern Pacific, Great Northern, Southern Pacific, Chicago, Rock Island and Pa- cific, and Atchison have nothing to fear from the trucks. In fact, the trucks may help them. Roads like the New York Central, Baltimore & Ohio and the Southern can survive and perhaps profit under this compe- tition. With a road such as the Bos- ton & Maine, New Haven, Pennsyl- Help Pay Your Painter! " Save in cost of Paint for painting your House, by using L & M SEMI-PASTE PAINT To itlustrate: . ‘Theyare! simply addingLinseed Ot L& M Bomi-Past M Semi-Paste Paint JUBIN BUL 0 g NG JONES paid $49 for 14 Gallons of “ready for use” Mixed PAINT— SMITH made 14 Gallons of the Best Pure Paint for $34.60, by buying 8 Gals. L&M Semi-Paste Paintand 6 Gals, Linseed Oil to mix into it. SMITH SAVED $14.40 Extensively used for 50 years Bitt Y AIN PLAINVILLE LUMBER & COAL CO., PLAINVILLE BRISTOL HARDWARE CO., BRISTOL NEW BRITAIN DAILY HERALD, SATURDAY, SEPTEMBTR 80, 1922. vanla, Chicago & North Western, Reading and the like, this {s not true, These roads are bound to suffer far more from the truck than they now think possible, Auto Tryck Highways “We shall live to ses great high- ways built by the state exclusively for truck use, Rallroads are destined ul- timately to lose all of their short haul business and hence the roads which are in comparatively small and com- pact terpitories are sure to suffer, The only hope for some roads such as the Boston & Maine and New Haven is to gell certaln of thelr rights of way to the state in order that the tracks may be removed and concrete highways laid in thelr place. Many roads have rarallel lines today under their con- trol. The wise rallroad will de- velop one of these for itself and will sell the other at a good price to the state for”a concrete truck highway. F'rankly, I would rather take my chances withy concrete securities than with rallroad securities bought indls- criminately. Therefore, in taking any tips from Wall Street to buy rallway securities use great discrimination to select those which cannot be adversely affected by a great development in trucking or those whose management is far-sighted enough to reduce their mileage to only such as is profitable, selling the rest for trucking high- ways." Continued activity in bullding lines has brought general business to a new high level for the year. It now stands at but 59 below nor- mal—an improvement of 29, since last week. 93 POTTERY FIRMS UNDER INDICTMENT Twenty-Four Individuals Are | Summoued in Trust Yiolation_ | ', ! New York, Sept. 30.—Twenty-three !potteries and 24 of their officers in the Sanitary Potters association, con- |trolling 85 per cent of the industry {in the United States, have been in- |dicted under the Sherman anti-trust law, it became known last night. The indictment wasg unsealed by Col. Wil- |liam Hayward, United States attorney. Col. Hayward, who had directed an |investigation for six months, said the |indictment was returned last month by the federal grand jury, which re- mained in special session to finish the inquiry, but had been held under Hundreds of New Britain Pedple Will Receive Dividends Oct. . ‘1st It is Just the time, when extra money is coming in like this, to start saving. If you have a Savings Account, we suggest that you put as much as possible away, if not then we urge you to open up a Savings Account here. Deposits up to and including October 5th will bear interest at 4’2 per cent., asfrom October 1st. l}.Open Saturday Evenings—7 to 9 P. M. Have You Forgotten to Take Out a Membership in Our Vacation Club? It is not too late to start now. Put away seal pending an investigation collateral Industry, The indicted potterfes are engaged prineipally in the manufacture of porcelain and earthenware fixtures for bathrooms, 8ince a large proportion of thelr product goes into apartment houses, Col, Hayward sald the action s of vital concern to New York city and the country at large, Finds Prices Out of Reason, The indictment is in two counts, one charging a price fixing combination and the other accusing the defend- ants of unlawfully restricting their sales to specially selected “legitimate jobbers." It is alleged that “these defend- ants manufacture and sell upward of 86 per cent of all the sanitary pot- tery manufactured in the United States; that through the medium of their association they refrained from competing with each other as to the prices at which sanitary pottery should be sold, and that by common and concerted action they exacted uniform, arbitrary and non-competi- tive prices.” Several overt acts are alleged in the southern district of New York. Regarding the second count, Col. Hayward sald the selling practices of the concerns tended to increase the price to the consumer beyond all rea- sonable proportions. He continued: "This assoclation had a rule where- by its members were barred from selling their merchandise directly to the builder or architect or contractor, except through the medium of a job- ber or plumber. In other words, the manufacturer would confine his sales to so-called “legitimate jobbers.' The plumber's profit would be added and it would then go to the contractor. Each one of these groups was placed in a position whereby it could, with- out fear or competition, dictate its own price and dictate f{ts own profit.” The case was presented to the grand jury by David L. Podell, spe- clal assistant to the United States At- torney, who sald the defendants will be called for pleading within two weeks and that the case will go to trial at an early date. List of Defendants, The twenty-three companies and twenty-four individuals indicted are: Abingdon Sanitary Manufacturing company, Abingdon, Til, and James { E. Slater, president and manager; Acme Sanitary Pottery company, Trenton, and James A. Dorety, Jr., secreta B. 0. T. Manufacturing company, Trenton, and Bert O. Til- den, president; Bowers Pottery com- pany, Mannington, W. Va., and John W. Bowers, president; Camden Pot- tery company, Camden, and T. Mun- roe Dobbins, president and treasurer; Chicago Pottery company, Chicago, and Theodore H. Harker, secretary- | treasurer; Cochran-Drugan & C | Trenton, and Waiter F. Drugan, vice- president; Eljer Company, Camero: W. Va,, and Ford City, Pa., and Ra ymond E. Crane, vice-president; Kal- amazoo Sanitary Manufacturing com- pany, Kalamazoo, Mich., and Edward V. Brigham, vice-president and gen- eral manager; Kokomo Sanitary Pot- | tery Company, Kokomo, Ind., and G. { E. Rhodes, general manager; Key- | stone Pottery Company, Trenton, and Harry J. Lyons, president and treas- | urer. | Also Lambertviile Pottery company, Lambertville, N. J., and Philip J. Fa- |herty, treasurer; John Maddock and Sons company, Trenton, and Willlam B. Maddock, secretary; Thomas Mad- |dock's Sons company, Trenton, and Archibald M. Maddock, president; Na- tional-Helfrich Potteries comps Evansville, Ind., and Harry F. Weaver, secretary and general manager; Pa- cific Sanitary Manufacturing company, | Richmond, Cal., and Newton W. Stern, president; Resolute Pottery company, Trenton, and John F. Smith, treasur- Ior; Sanitary FEarthenware Specialty |Co., Trenton, and Arthur ' Plantier, |Sr., president and general manager; Standard Sanitary Manufacturing company, Kokomo, Ind., and Tiffin, |Ohio, and A. C. Kalbfleisch and Sig- mund B. Kling, factory managers, and |W. C. Chamberlain, sales manager; | Trenton Potteries company, Trenton, {and ey 8. Aitkin, general manager; |Universal Sanitary Manufacturing company. Sanita Manufacturing company, | Wheeling, W. Va,, and J. E. Wright, | president and general manager, and |Horton Pottery company, Chillicothe, 0., and Chris Horton, president and treasurer. into a JAIL TERM FOR A. H. EARLE Drove Negligently Near Woolen Pres- ideat's Son in Death Crash Cambridge, Mass., Sept. 30—Arthur H. Earle of Lexington, who was driv- ing his automobile close to that of Willlam M. Wood Jr. when the son of the president of the American Woolen company was Kkilled in crash near Reading, on Aug. 15, was today sentenced to serve three months in the House of Correction. Earle | pleaded guilty tq operating his ma- chine at that time so as to endanger the public District Attorney Saltonstahl asked for a jait sentence, saying, "I don't accuse him of manslaughter, but he wad driving with extreme negligence."” a 50c, $1.00 or $2.00 each week and know that you will have a fine vacation in 1923. We are open tonight from 7 to 9 New Castie, Pa.; Wheeling ' WALL STREET STOCK EXCHANGE REPORTS 10:40 was #. m~~The stock exchange irregular at today's opening. Ralls, olls, equipments and independ- ent steels ylelded to pressure but there were a few exceptions in each | Eroup, ‘W York Central fell back a point and Chicaugo and Northwestern one-half while Northern Pacific was pushed up one, Standard Ol of N. J. mounted nearly two points but losses of substantial fractions were recorded (Successors to Stanley I. Fddy, Manager by Pacific Oil, Gen. Asphalt, Mexican Pet, Pan Am, Standard Ol of Cal, | and Royal Dutch. Baldwin and Am. Locomotives ylelded a point each as did Continental Can and Lackawanna Steel. Republic Steel ylelded frac- tionally but Midvale advanced a point. National Biscuit broke through to a new high record for the year for a gain of 3 points and a similar advance was made by Otis Elev, Quotations furnished bv Putnam & Company. High Beet Sugar. 43 Can_ oioves87% Cot OIl 26 Loco ......124% Smit & Ref. 603 Sug Ref em. 77% Sum Tob .. 37% Tel & Tel. 1211 Am Tob 169 % Am Wool \ 977% Anaconda Cop 518 Atch Tp 8 & F.103% At Gulf & W I. 29% Baldwin Joco .133% Balti & Ohlo .. 54% Beth Steel B ..4%3 Can Pacific ....143% Cen Leather ... 40% Ches & Ohio .. T1% Chi Mil & S P. 81% Chi Rek Is & P. 43% Chile Copper .. 25% Chino Copper .. 288 Consol Gas ....136 Corn Prod Ref.113% Crucible Steel 8514 Cuba Cane Sug. 13% Endicott-John.. 831 Erie Erie 1st pfd . Gen Electric Gen Motors | Goodrick BF Gt North pfd.. Interboro Con % Nnt Mer Mar .. 14% Int Mer Mar pd. 59% | Allis-Chal Pa c Oil Int Nickel Int Paper Kelly Spg Tre Kenn Copper Lack Steel Mex Pet Midvale Steel Missouri Pac . Y Central INYNH&H . if\orth Pacific Pure Oil Pan Am P & Penn R R Pierce Arrow Pitts Coal Ray Con Cop ... Reading Rep I & S Royal D N Y . Sinciair Oil Ref . South Pacific ... South Rail Studebaker Co Texas Co ... Tex & Pacific Tob Products .. Trans Oil Union Pacific ..148 United Fruit ... .148 United Se St ... 81% U S Indus Alco 621§ U S Rubber Co . 52% U S Steel U 8 Steel pfd .. Utah Copper ... Willys Overland . 6% (Putnam & Co.) Bid ..660 .193 Low 43 56 % 25% 122% 59 1% 371 1208 169 96% 51 103 287 131% 531 69% 1428 30% 71 30% 427% 24% 284 133% 113 813 13% 83 15 % 233 175 14 33% 90% 1% 14% Am Am Am Am Am Am Am Am 28% 132 54 0y 142% 3914 71 30% 427% 251 28% 134% 114 81% 13% 83 15% 2385 175 14 33% 90% 1% 14% 58 53% 55% 16% 55% 91 33% 7% 176 32% 94% 29% 85% 30% 5% 4% 13% 60% 14% 5% 5485 55% 33 92% 24% 125% 46% 27% 8314 13 147% 8% 61% 51% 100 7% 643 6% .128% 47 27% 831 13% Asked Aetna Life Ins Co. 70 Am Hardware | Am Hosiery . Bige-Hfd Cpt Co com Billings & Spencer com. Billings & Spencer pfd Bristol Brass . . Colt's Arms ...... Conn Lt & Pow pfd Eagle Lock Fafnir Bearing Hart & Cooley Hfd Elec Light .......171 Landers Frary & Clark. 58 J R Montgomery com J R Montgomery pfd..105 N B Gas . . N B Machine . N B Machine pfd Niles-Bemt-Pond com North & Judd Peck, Stow & Wilcox Russell Mfg Co ... Scovill Mfg Co Southern N E 75 120 116 . 4 24 261 RIS 88 o 211 . 64 55 107 Stanley Works .... Stanley Works pfd Torrington Co com Traut & Hine Travelers Ins Co . Union Mfg Co .. U. §. Treasury—Balance, Utah Power and Light 7% Preferred PUTNAM & CO. Mcmbers New York Stock Exchange Members Hartford Stock Exchange Richter & Co.) 31 West Main St., Tel, 2040 50 Shares Hartford Elec. Light : We Offer— NEW BRITAIN Telephone 2580 Members Hartford 8tock Exchange Donald R. We Do Not Accept Waterbury Danbury Middletown Direct Private Wire to New Britaln National Bank Bldg. JOHN P. Member Consolidated Stock Exchange of New York STOCKS BONDS & CO Members New York Stock Exchange MEMBERS HARTFORD STOCK EXCHANGE HARTFORD: Hartford-Conn. Trust Bldg., Tel. 3-6320 NEW BRITAIN: 23 West Main St.. Telephone 1815, 50 SHARES CONN. LIGHT & POWER 8% PREFERRED, TO YIELD 7% Thomson, Tenn & To. Hartford 10 Central Row Telephone 2-4141 Members New York Stock Exchange Hart, Mgr. S — We have buying and selling orders for the common stock of The Niles-Bement-Pond Company Margin Accounts KEOGH Bridgeport New" Haven Springfield Newt York and Boston G. F. GROFF, Mgr.—~Room 309, N. B. Nat'l Bank Bldg.—Tel. 101} Capital $2,000,000.00. Bank by mail. It is BANKING CHAPTER HAS FIRST MEETING Hartlord Bank President Speaks to Local Members Unless the men in the banking busi- ness study more diligently, the women will occupy official positions within the next few years to come, according to a statement made last evening by A. H. Cooley, president of the Mutual Bank and Trust company of Hartford, in an address before the New Britain chapter, American Institute of Bank- ing at the opening rally of the season held at Electric hall. Mr. Cooley emphasized the import- ance of study and urged that the men and women employed in the banks take advantage of the course being of- fered by the banking institute this coming winter. The courses will consist of elemen- tary banking and then four 'standard courses including commercial law, ne- gotiable instruments, standard econo- mics, standard banking. The advanc- ed courses will consist of an account- ing course and a credits course. The New Britain bankers interested in any of the courses are asked to file a card and leave it with Frances Cone, Gustave Winger, Curtiss Shel- don, Lester Edgerton or Harry How- ard, members of the educational com- mittee. Quartet Entertains Following the speaker, Mrs. Clnra‘ Bernstein, accompanied by Miss wa'—’ trude Dehm, on the piano, rendered vocal solos and the rest of the enter- tainment was provided by the well known “L'" quartet composed of Clem- ent Lewis, Paul Lucas, Dwight Lath- am and Herbert Loomis. 1 The four boys were well applauded for their efforts and were forced to respond to several encores. The Gal- lagher and Shean bit by Messrs. Lewis and Lucas was exceedingly well done. Dwight Latham favored with banjo selections and Robert Loomis render- ed a vocal solo. To Meet In Bristol President Harry Hatsing announced that the next meeting of the chapter will be held in the new National bank bullding in Bristol on October 20. ARE NAMED APPRAISERS A. N. Abbe and Herbert H. Wheeler, have been appointed by the probate court, appraisers of the estate of the late Marcellus L. Bailey. The Hartford-Connecticut Trust Company Corner Main and Pearl Streets, Hartford, Conn. Surplus Funds $2,000,000.00 Safc Deposit Boxes, $5.00 and upwards. Settlement of Estates. Foreign Exchange to all parts of the world. LETTERS OF CREDIT — GENERAL BANKING safe and saves time. — ] LEFT HER NEW BORN TO DIE. Southampton Woman Confesses She Placed Child in Swamp. Southampton, L. I, Sept. 30.—Mrs. Alice Switcaksky, 40, a widow of Me- cox, near here, who is said to have confessed that she placed her new born baby in a swamp near Mecox Monday, has been arrested on charges of manslaughter and concealment of the birth of the child, and is held in the Riverhead jail in default of $11,5600 bail. Mrs. Switcaksky, it was sald, gath- ered 130 bushels of potatoes the day the baby was born. Soon after its birth she left it in the swamp, it i alleged, and children found it dead several hours later. | Savings Bank of New Britain Organized 1862 RESOURCES OVER $13,000,000 e 178 Main Street Deposits in this bank are receiving 41/2% Interest. Interest begins the first of each month. Open 9 a. m. to 4 p. m. Saturdays 9 a, m. to 12 m. Monday Evenings 7:30 to 9